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Rigel Announces First Quarter Financial Results
Date:5/3/2011

are delighted by the progress AstraZeneca has made with the fostamatinib phase 3 program," said James M. Gower, chairman and chief executive officer of Rigel. "We currently expect to begin two phase 1 clinical trials with our internal JAK3 programs by the end of 2011. The first is a novel oral JAK3 inhibitor intended for the treatment of transplant rejection and the second is a different JAK3 inhibitor in a topical formulation intended for the treatment of discoid lupus," he added.

About Rigel (www.rigel.com)

Rigel is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory and autoimmune diseases, as well as muscle disorders. Rigel's pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel's productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market its product candidates. Current product development programs include fostamatinib, an oral syk inhibitor that has started its phase 3 clinical trial program for rheumatoid arthritis, and R343, an inhaled syk inhibitor that has completed Phase 1 clinical trials for asthma.

This press release contains "forward-looking" statements, including, without limitation, statements related to Rigel's expectations as to its year-end cash position and the sufficiency of its cash, cash equivalents and available for sale securities; and identification of a novel programs for clinical development, the potential indications for treatment, and the timing of clinical trials with respect thereto.  Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as " "intend," "expect," and similar expressions are intended to identify these forward-looking statements. These forward-looking statement
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SOURCE Rigel Pharmaceuticals, Inc.
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